FY2027 Small Area FMR · Palos Park, IL

ZIP 60464 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 60464 (Palos Park, IL) is $2,100 a month, down 7.1% from FY2026. That is 4% above the Chicago-Joliet-Naperville, IL area-wide FMR of $2,011.

2-bedroom SAFMR$2,100per month ▼ 7.1%

Area-wide 2 BR FMR$2,011Chicago-Joliet-Naperville, I

Rank in the area159thof 370 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$1,890

2 BR Small Area FMR$2,100

110% of SAFMR$2,310

Housing agencies may set voucher payment standards anywhere from 90% to 110% of the FMR without asking HUD.

Studio$1,750▼ 6.9%

1 BR$1,860▼ 7.0%

2 BR$2,100▼ 7.1%

3 BR$2,700▼ 6.9%

4 BR$3,080▼ 9.9%

FY2027 FY2026

Where 60464 sits in the Chicago-Joliet-Naperville, IL area

Of the 370 ZIP codes HUD lists for the area, 60464 has the 159th highest two-bedroom Small Area FMR. Chicago-Joliet-Naperville, IL is one of the 65 metro areas where HUD requires Small Area FMRs for the Housing Choice Voucher program (designated 2016), so local housing agencies must set payment standards from this ZIP code's figure, normally between $1,890 and $2,310 for two bedrooms.

All unit sizes

Monthly gross rent including utilities
Unit	FY2027 SAFMR	Payment standard range	Area-wide FMR	FY2026 SAFMR
Studio	$1,750	$1,575 – $1,925	$1,678	$1,880
1 bedroom	$1,860	$1,674 – $2,046	$1,780	$2,000
2 bedrooms	$2,100	$1,890 – $2,310	$2,011	$2,260
3 bedrooms	$2,700	$2,430 – $2,970	$2,586	$2,900
4 bedrooms	$3,080	$2,772 – $3,388	$2,954	$3,420

A household renting a two-bedroom home at the Small Area FMR of $2,100 needs about $84,000 a year to keep housing costs at 30% of income. The area median family income is $121,500 and the 80% low-income limit for four people is $97,200. ZIP code 60464 lies mainly in Cook County. See the Chicago-Joliet-Naperville, IL metro page for the full income limits table and the household check.

Nearby ZIP codes

ZIP	Place	Distance	2 BR SAFMR
60465	Palos Hills	2.9 mi	$1,780
60462	Orland Park	3.0 mi	$1,960
60463	Palos Heights	3.7 mi	$2,620
60482	Worth	4.0 mi	$1,610
60467	Orland Park	4.3 mi	$2,880
60457	Hickory Hills	4.6 mi	$1,520

Questions

What is the Fair Market Rent for ZIP code 60464?

HUD's FY2027 Small Area Fair Market Rents for 60464 are $1,750 (studio), $1,860 (1 BR), $2,100 (2 BR), $2,700 (3 BR) and $3,080 (4 BR) a month.

What is the Section 8 payment standard in 60464?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 60464 that range is $1,890 to $2,310 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 60464?

The FY2026 income limits of the Chicago-Joliet-Naperville, IL area apply: median family income $121,500, low-income (80%) limit $97,200 for a family of four.